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02/26/2019

Realtors Expand Reach of Accelerator Program

NAR wants to drive more tech-minded thinking in the commercial real estate sector

The National Association of Realtors (NAR) wants to drive more tech-minded thinking in the commercial real estate sector. Its tactic of choice? An accelerator program, of course.

Last week, NAR announced that its strategic investment arm, Second Century Ventures, will expand its REach accelerator program, already in use to push tech innovation in residential real estate, to the commercial sector. The 48 tech companies that have thus far participated in the accelerator have raised more than $350 million in financing during or after the program, according to an NAR press release.

REach Commercial will take applicants between now and March 31. Those accepted will gain access to mentoring and networking resources; education on the real estate market; NAR’s Insight Panel, which offers feedback from the real estate industry; and exposure through NAR’s existing marketing and communication channels. As NAR is one of the largest trade associations in the country, with more than 1.2 million members, that kind of exposure can be critical for participating companies.